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Law firms: Stacks of moneyLaw firms: Stacks of moneyCorporate recruiter ICICI Bank has increased its basic pay package for new recruiters by almost one and a half lakh rupees taking the basic annual package to 10.5 lakh, as Bharucha & Partners, Juris Corp and Majmudar & Co hiked their fresher pay. Tatva Legal kicked off its first law school recruitment season with packages of Rs 8 lakh.

ICICI’s hike is a 16 per cent increase in pay from the base salary of 9.05 lakh that was offered to law graduates last year.

ICICI general counsel Pramod Rao said that this was a cost to company figure including certain benefits, which could be converted into a retainership after six months.

Bharucha & Partners is also understood to have upped its starting pay to Rs 8 lakh per year.

Meanwhile, Juris Corp has revised its base package for new recruits to Rs 6 to 6.5 lakh per annum from Rs 4.8 to 6 lakh last year, according to partner Detty Davis.

It is understood that Dua Associates breakaway Tatva Legal, which recruited eight freshers from national law schools this year, offered a base package of Rs 8 lakh rupees with a guaranteed minimum bonus of Rs 2 lakh.

Majmudar & Co, which recruited a total of seven freshers from NLSIU Bangalore, Nalsar Hyderabad, NLU Jodhpur and NUJS Kolkata, is now paying Rs 8.43 lakh per year on average in Mumbai and between Rs 4.3 lakh and Rs 6 lakh in Bangalore, said Majmudar managing partner Akil Hirani. In Mumbai the variable bonus is up to 26 per cent of base salaries.

The Supreme Court has also increased the stipend given to judicial clerks. The new stipend is now Rs 3 lakh rupees up from the Rs 1.8 to 2.4 lakh that was offered last year.

Most of the other recruiters have not yet been confirmed to have hiked the basic package offered last year as Trilegal, J Sagar Associates (JSA), Luthra & Luthra, Khaitan & Co, ICICI Bank and S&R Associates all continued offering seven digit base packages.

AZB & Partners still leads the pack as the highest paying recruiters paying 11.4 lakh rupees to fresh hires while Khaitan and Trilegal are offering a little less with an annual package of 10.8 lakh rupees.

The salary data was compiled by Legally India from law school recruitment committees, expanding on research first published out by Legally India in June 2010 (see detailed methodology below table).

Each of the firms paying above Rs 10 lakh offer to pay a bonus of up to 30% of the base package, while Amarchand and Luthra offer a bonus of up to Rs 3 lakh in campus recruitments. AZB is again leading the law firms by officially paying up to Rs 3.5 lakh as bonus to fresh grads.

Among foreign firms offering trainee contracts (TCs) to law school grads, Allen & Overy is the most generous paymaster offering an annual package of £38,000 (Rs 27.64 lakh) to freshly hired trainees while Herbert Smith pays £37,500 (Rs 27.2 lakh).

Linklaters, Ashurst and Norton Rose offer packages of £37,400 (Rs 27 lakh), £37,000 (Rs 26.9 lakh) and £35,700 (Rs 25.9 lakh) respectively.

Check out Legallypedia’s Indian lawyer salaries page (to be updated)

Indian lawyer salaries

Name of the recruiter

Base annual package (Rs lakh)

Total package w/ max bonus / other (Rs L)

AZB & Partners (Mumbai)

11.4

“competitive bonus”

Khaitan & Co

10.8

14.8

S&R Associates

10.8

 

 

Trilegal

10.8

12.8

Talwar Thakore & Associates

10.5

Bonus: 0-40% of base pay[1]

Amarchand Mangaldas

10.48

14-15

Luthra & Luthra

10.08

12.6 (+0.51 signing bonus) (+3 insurance benefits)

ICICI Bank

10.5

CTC* with other benefits convertible to full retainer after six months[2].

Finsec Law Advisors

10

Performance based bonus

Tatva Legal

10  (includes 2 lakh minimum assured bonus)

10 including assured 2 lakh minimum assured bonus

J Sagar Associates (JSA)

9.6

 

 

Platinum Partners

9

 

 

Majmudar & Co

8.43 (Mumbai avg)

 

 

4.3-6 (Bangalore avg)

Mumbai: 8.43 + 26% variable bonus

Wadia Ghandy

8.4

10 with bonus at fresher level.

Bharucha & Partners

8

 

Argus Partners

8

10 with bonus at fresher level.

 

Desai & Dewanji

6-8.4

2% on billings + 10% on billings (if the work has been generated by the fresher) + discretionary year end bonus

Nishith Desai Associates

7.2 (+4.8 lakh retained until third year)

 

 

Vedanta

7

 

 

Phoenix Legal

6-7.2

 

 

IFMR

6-6.5

 

 

Juris Corp

6-6.5

 

 

Crawford Bayley

4.8

Variable across teams (Unconfirmed claim of 10.2 CTC* incl. performance bonus for National Law Schools)

Lakshmi Kumaran & Sridharan

4.8

 

 

Kochhar & Co

4.2-4.8

 

 

Pangea3

3.6-6

 

 

CPA Global

3-5

 

 

OSC Service (Clifford Chance offshoring company)

5.3 (confirmed by Clifford Chance spokesperson)

 

 

Supreme Court judicial clerkship

3 (stipend)

 

Source: Legally India research: interviews with students and college recruitment committees and putting those figures to law firm or organisation for correction or comment. Recruitment committee figures were only used where at least two different law schools or students confirmed the same figure.
*CTC: "cost to company" figure can include other benefits than just base salary.

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1
 
Recommend! +5 Objection! -1 A 2011-09-29 17:38
instead of offering huge salaries to few, i think firms should hire more (not foregoing quality though) and pay comparatively less to maintain the demand supply of lawyers in a closed legal market like India...where competition is less as compared to existing players ...
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2
 
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Recommend! +0 Objection! -0 Anon 2011-09-29 18:13
Kian shouldn't Wadia Gandhy move up two places?
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2.1
 
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Recommend! +0 Objection! -0 kianganz 2011-09-30 12:22
Thanks, been fixed now.
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3
 
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Recommend! +1 Objection! -0 Mumbai 2011-09-29 18:20
Whats this 3 insurance benefits of Luthra? Khaitan also provides complete medical cover for all its professionals.
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4
 
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Recommend! +1 Objection! -0 3 Series 2011-09-29 18:46
These are packages 'offered' or paid/payable? If it is a contest on the basis of 'offers' only, the NOIDA Firm though not figuring in this list should come at top!
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5
 
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Recommend! +2 Objection! -0 kumarankit1 2011-09-29 19:39
Dear Author,

Just wanted to check if you have any authoritative source for the figures mentioned above?

A few employers are likely to have been misquoted. Request you to please confirm and if possible, give your readers a in-hand p/m figure for better mapping?
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5.1
 
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Recommend! +0 Objection! -0 kianganz 2011-09-30 12:13
Please check the text in italics below the table that explains methodology, which was the same as used last year:
"Legally India research: interviews with students and college recruitment committees and putting those figures to law firm or organisation for correction or comment. Recruitment committee figures were only used where at least two different law schools or students confirmed the same figure."

We will include this description higher up so it is clearer.
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5.2
 
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Recommend! +0 Objection! -0 kianganz 2011-09-30 12:26
In terms of monthly cash in hand figure, please take the annual lakh figures and divide by 12. The in-hand figure will depend on individuals' tax planning, which will be the same at all firms, except firms such as Nishith Desai where lawyers are paid as employees and not on retainer.
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5.2.1
 
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Recommend! +0 Objection! -0 A 2011-09-30 13:32
Isn't that against BCI norms and also Advocates Act ? Can a lawyer work as an employee without giving up its license to practice law ?
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5.2.1.1
 
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Recommend! +0 Objection! -0 B 2011-10-02 13:22
that is why they are kept as associate and not as that of purely employee status
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6
 
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Recommend! +1 Objection! -0 Room # 532 2011-09-29 22:56
Jay, check the 2nd column of 'Tatva Legal' - A bit of a repetition :)
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6.1
 
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Recommend! +0 Objection! -0 kianganz 2011-09-30 12:13
My fault that one - since their bonus situation is assured, we included similar text in both columns.
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6.1.1
 
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Recommend! +0 Objection! -0 Nagashayana 2011-10-03 13:23
I refer to Tatva legal. Is it pan- India or city specific?
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6.1.2
 
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Recommend! +0 Objection! -0 Lawyer 2011-10-03 13:34
Kian, is AZB maintaining a pan-India pay scale?
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6.1.2.1
 
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Recommend! +0 Objection! -0 kianganz 2011-10-03 13:37
I believe AZB has different pay scales in Mumbai and Delhi, as well as some other offices. The figures quoted are for Mumbai. We will amend the table to clarify.
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7
 
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Recommend! +1 Objection! -0 boo 2011-09-30 09:31
Kian some suggestions:

1. Tell us about pay in departments not related to financial law as such. e.g. real estate, energy, technology, ip etc. It seems this website is only devoted to a certain section of lawyers.

2. CTC is crap Give us the salary they get in hand.


3. Pls keep in mind that bombay is a very expensive city, even though it is dirty,full of slums etc. 60,000 in Delhi is better than 80,000 in Bombay.
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7.1
 
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Recommend! +0 Objection! -0 kianganz 2011-09-30 12:16
1. We can only confirm salaries at companies or law firms where the top Indian law school graduates go: most of this data comes from recruitment committees. Most law schools that send students to non corporate/finance places do not have such well-organised recruitment committees and can not give detailed information.

2. CTC at ICICI is convertible to a retainer model where it goes directly in hand of the employee, according to the company.
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8
 
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8.1
 
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Recommend! +0 Objection! -0 Associate from GLC 2011-09-30 13:21
Crawford pays a signing bonus of rs 1 lakh and in hand salary of 50,000 with a 10% increase after 10 months. NLS students dun get 10.2
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9
 
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Recommend! +0 Objection! -0 Anonym 2011-09-30 13:38
Kian, any news on Hariani and co.? Apart from salary amount... where does it rate on ranking?
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10
 
Recommend! +8 Objection! -0 Anon 2011-09-30 13:51  interesting
I wouldn't work at any of the top 4 firms in this list except for Khaitan - the other 3 are just inhuman employers!
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10.1
 
Recommend! +4 Objection! -0 Noojie 2011-09-30 15:56
Quoting Anon:
I wouldn't work at any of the top 4 firms in this list except for Khaitan - the other 3 are just inhuman employers!


AGREE COMPLETELY!!
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11
 
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Recommend! +1 Objection! -0 ana 2011-09-30 16:02
anybody knows about ALMT???
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11.1
 
Recommend! +6 Objection! -0 3 Series 2011-09-30 17:12  interesting
Yes. They are also a law firm:-)
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11.2
 
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Recommend! +0 Objection! -0 ALMT 2011-10-03 15:27
ALMT is known for not paying bonus or not making pay hike at appropriate time because of some of their non - performing senior associates and partners
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12
 
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Recommend! +1 Objection! -0 Money Mind 2011-09-30 17:21
Kian - Does Bharucha pay freshers a bonus? If yes, any idea what percentage of their base pay? I hear no bonus is issued till end of two years. If that be so, Argus may also move up a spot.
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12.1
 
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Recommend! +0 Objection! -0 Re: 2011-10-05 18:11
No bonus to freshers for their 1st year in Bharucha.
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13
 
Recommend! +5 Objection! -0 A 2011-09-30 17:40  interesting
azb is [...]!! u feel like being a slave there ...
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14
 
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Recommend! +0 Objection! -0 anon 2011-09-30 20:58
PXV legal a newly setup law firm by NUJS Grads pays
3.5 as starting salary + performance related bonus (monthly)
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15
 
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Recommend! +2 Objection! -0 After 5 PQE 2011-10-01 00:29
You have got starter's salaries. That's great.

Could you now enlighten us on how the firms fare after the fresh recruits complete 4-5 years.

What will be their salary then?
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16
 
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Recommend! +0 Objection! -0 I 2011-10-01 20:44
LKS should incerease pay! its otherwise great!
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17
 
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Recommend! +0 Objection! -0 LawIndia 2011-10-02 13:57
What about DSK legal? Any Idea?
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17.1
 
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Recommend! +0 Objection! -1 Re: 2011-10-07 14:05
Get Idea...
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18
 
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Recommend! +3 Objection! -0 Mika 2011-10-03 11:56
Paisa paisa karti hai tu paise pe kyun marti hai...
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19
 
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Recommend! +0 Objection! -0 Kian / 5 PQE 2011-10-12 10:57
Good point ... what after 5 years (or even 3)? Any movement by LI in that direction?
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19.1
 
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Recommend! +0 Objection! -0 kianganz 2011-10-12 11:28
Funny you should mention that actually - yes, there is some movement and something should be up in a little bit!
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20
 
Recommend! +18 Objection! -0 anon 2011-11-18 01:41  interesting  top rated
can u please shed a bit more light on the total package offered by icici. The article seems to be a bit ambiguous on what the basic annual package is. the article says that the basic pay package is 10.5, and then goes on to quote mr. pramod rao saying tht it is the ctc figure. so what exactly are the ctc figures and the basic pay package. i am presuming here that basic pay is the cash-in-hand figure. thanks a ton! :)
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20.1
 
Recommend! +15 Objection! -0 just bored.. 2011-12-09 01:27  interesting  top rated
good question #20! there are rumors going around among top law schools that ICICI has hiked its total package to 12 lakhs p.a. So what is this 10.5 lakh figure?! (it should be the take-home salary, but you can never be sure). and what about year-end bonus, if any? apparently, at the end of the month the final package which a first year trainee takes home is nowhere near the figures which have been claimed in this article. would'nt kill to mention the actual take home figures. Kian, any thoughts?
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21
 
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Recommend! +0 Objection! -0 jamia 2012-08-02 12:59
Hey these hefty pay hikes are only meant for nls guys or a pound of flesh is kept for other law graduates also from different universities of india?
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